https://www.taxtmi.com/caselaws?id=263551 The Tribunal dismissed the Revenue's appeal, ruling in favor of the assessee on two key issues. Firstly, it held that brought forward losses and unabsorbed depreciation of earlier years cannot be set off against the profits of the undertaking when calculating the eligible exemption under Section 10A of the Income Tax Act. Secondly, the Tribunal determined that telecommunication charges incurred in foreign exchange should be deducted from both export turnover and total turnover for computing the eligible deduction under Section 10A. en-us Wed, 21 Jan 2015 00:00:00 +0530 Sat, 05 Sep 2015 10:48:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263551 The Tribunal dismissed the Revenue's appeal, ruling in favor of the assessee on two key issues. Firstly, it held that brought forward losses and unabsorbed depreciation of earlier years cannot be set off against the profits of the undertaking when calculating the eligible exemption under Section 10A of the Income Tax Act. Secondly, the Tribunal determined that telecommunication charges incurred in foreign exchange should be deducted from both export turnover and total turnover for computing the eligible deduction under Section 10A. Case-Laws Income Tax Wed, 21 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263551